If you are close to the point of enrolling in Medicare, you may feel overwhelmed. There is certainly a lot of information available, and it may seem difficult to get through it all. However, if you start familiarizing yourself with the following concepts, you will soon be enrolling with confidence and understanding.
Eligibility
The earliest most people can enroll is the year they turn 65. For this reason, most people are not eligible to apply for Medicare before this time. However, there are some exceptions to this rule. It is essential to understand that different people can become eligible for different reasons.
If you are under 65, you may qualify if you have received certain disability benefits for 24 consecutive months. If you have been diagnosed with Amyotrophic Lateral Sclerosis (ALS) or End-Stage Renal Disease (ESRD), you will likely qualify for Medicare with no waiting period.
Automatic Enrollment vs. Registration
If you receive Social Security benefits, you won’t need to register for Medicare. You will be enrolled automatically when you become eligible and will receive information about your plan in the mail.
Note: citizens of Puerto Rico will automatically be enrolled in Part A but will have to register for Part B by filling out a separate application.
You will be registered for both parts of Original Medicare but once enrolled, you may turn down Part B coverage if you choose.
Suppose you are either ineligible for Social Security or are not yet collecting benefits. In that case, you will not be automatically registered and will have to enroll through Social Security.
Enrollment Periods
There are only certain times when Medicare enrollment is open. It is best to familiarize yourself with these enrollment periods and get coverage as early as possible to avoid potential penalties.
The first chance you get to enroll in Medicare is a seven-month window called the initial enrollment period, which begins three months before your 65th birthday month. If, for some reason, you do not enroll during this time, you will be able to enroll during the general enrollment period, which is from January 1 to March 31.
You may also be able to enroll during a special enrollment period, or SEP, depending on whether you meet specific qualifications. This eight-month period begins once employment or other insurance coverage ends.
Want to Learn More? We’re Here to Help
At Magellan Healthcare, we are dedicated to providing you with all the information and resources you need to make the right choice regarding your Medicare coverage. Reach out to us today to learn more about your options with Medicare!
